18. June 2015 21:52
Selling a home requires good negotiating skills to ensure a profitable deal. Every home seller must be familiar with the market rates, expectations of tenants and the involved legal and financial regulations before finalizing a deal.
Here are some tips for negotiating a successful home sale:
- Negotiate in the interest of both the parties: It is important that both sides should feel satisfied and content with the outcome of the negotiation. The deal should be in the interest of both the sides, as a one-sided deal will lead to an unsuccessful sale along with wastage of time and money.
- Improve the condition of your home: It is advisable to make some home improvements such as painting the house, carrying out necessary repairs and cleaning the property to negotiate a higher price. Any defects in your home would lead the buyers to negotiate for a lower price. You must avoid hiding or covering up any defects from the buyers, as it can lead to trust issues in the future.
- Check out the market value of your house: You can improve your negotiating position by researching the real estate market and finding the market value of your house. A professional appraiser can help you by evaluating your home. You can also ask a real estate agent to list your house for sale to know about the market value of your home.
- Being patient: Buyers would definitely like to take advantage of your situation if you seem to be in a hurry to sell your house. Put your house on market early and take sufficient time in finding the right buyer at a profitable price.
- Ask the buyers what they want: The terms of the sale are equally important as price, so focus on the terms while negotiating. Check out what are the buyer’s terms in closing the deal, moving in or do they want you to add a particular thing or facility to the property.
- Avoid being emotional: It is better that you avoid being emotional and quote a realistic price, which the buyers can afford.
- Add extra features: To negotiate the deal in your favor, you can offer some extra feature such as appliances or repair works in the selling price.
The above stated strategies can help you negotiate the deal in your favor. You can also consider hiring a professional property manager to assist you in negotiating a good price for your house.